Jaitley remained steadfast in not caving in to sustained Opposition pressure.
Lok Sabha proceedings were adjourned for the day on Thursday following a request from the government that the Indian Antarctic Bill, 2022 be taken up for consideration when Opposition members are also present in the House.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
The government on Wednesday decided not to hold special session of Parliament to pass the constitution amendment bill for rolling out Goods and Services Tax and will recommend to the President to prorogue the Monsoon Session.
A strong proponent of the GST, Adi Godrej has been saying for five years or more that it will add one per cent to India's gross domestic product (GDP).
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Govt is keen to push reforms in the insurance sector.
A moderate GST rate obviates the need for the two-rate structure.
Traders are closely watching the progress of the monsoon.
State finance ministers' panel to decide on latest attempt at harmonising of views on Constitution amendment.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
They are evaluating realignment of warehouses and supply chains, besides exploring locations to set up hubs and shutting down some distribution centres
The Maharashtra CM said he doesn't think the Centre has a plan on settlement of Hindu immigrant from other countries.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
The RBI announced its monetary policy on Tuesday.
Many private economists consider the deficit target optimistic, citing weak tax receipts in a sluggish economy and high federal expenditure commitments.
Protesting Congress members had on Tuesday too blocked a debate on the bill. The monsoon session ends on Thursday.
The session will have 20 working days for now.
GST reform has been hanging fire since 2006-07.
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Any judgement on whether the March numbers reflect sustainable growth in GST collection should ideally await the numbers that will be out in May, points out A K Bhattacharya.
As many as 30 sub-groups and committees worked tirelessly to devise rules and laws as well as fix tax rates for over 1,200 goods and services.
Jaitley said the geographical expansion of the BJP in Kerala, after Karnataka and Andhra Pradesh in the South, and the 11 per cent vote share in West Bengal were 'important milestones'.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
GST council may propose a faster refund procedure, deferment of electronic way bill, further simplification of composition scheme
The state has extended its full support, provided its revenues are protected.
Britain's third female prime Minister, Liz Truss, was out of office on Thursday after the shortest tenure at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize.
Donald Trump blamed the Democrats after the bill, which would have provided short-term funding for the Pentagon and other federal agencies, did not receive the required 60 votes.
The Congress, however, said it wanted to see the final print on the wording of the dispute resolution mechanism before committing its support to the Bill
Sources in the Fifteenth Finance Commission said that they will implement the provisions after the bill is enacted and the President makes a reference to it.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
The National Democratic Alliance won 64 seats.
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
Analysts say markets to be impacted by monsoon, inflation trajectory.
Jaitley increased the excise duty on most tobacco products by 10-15 per cent.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
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